Jersey joins top ten global wealth management centres – rankings

By: Patrick Blum | 28 Sep 2011

Jersey has joined the top ten locations in the world for wealth management and private banking services, climbing to eighth position, according to rankings in the latest Global Financial Centres Index (GFCI).

The jurisdiction is also the fifth highest ranked location overall in Europe, behind major city centres London, Zurich, Geneva and Frankfurt.

Overall, Jersey has risen two places and retained its position as the highest rated offshore international finance centre, ahead of Guernsey, the Isle of Man, the Cayman Islands and Malta.

Jersey has also moved from being categorised as a ‘transnational specialist’ to a ‘global specialist’ centre, becoming the only offshore centre to achieve a ‘global’ profile, listed alongside centres such as Beijing, Dubai and Geneva.

The report notes that eurozone centres including Dublin, Luxembourg and Malta, have suffered in the rankings, while offshore centres were recovering as market participants recognise the contribution they can make to global finance, said Jersey Finance.

“To be listed ahead of major European centres such as Paris, Munich and Luxembourg, confirms that Jersey is incredibly well regarded on the global stage, said Geoff Cook, chief executive of Jersey Finance. “Jersey is one of the only offshore centres to have improved its global ranking and is now referred to as a global player and one of the top centres worldwide for wealth management services.”